New figures show that the value of transport infrastructure contracts signed last month is up by more than a third on the same time last year.

 

Data released by construction intelligence firm Barbour ABI also points out that the value of all UK infrastructure contracts beyond that of just transport broke the £2Bn mark in July for the first time in 18 months.

 

Nearly a third of the new infrastructure contracts announced last month will be built in North West England.

 

Barbour ABI’s lead construction economist Michael Dall said that July’s encouraging figures have been helped by the award of several large road improvement and maintenance contracts. “Signs are pretty positive for the transport sector,” he said.

 

“There has been a significant upturn in contracts signed and we have seen the start of a turn in the market, which is certainly encouraging.” Mr Dall added that he is “cautiously optimistic” that the trend will continue but went on to say “it is too early to get the bunting out.

 

“These are the first shoots of recovery, but as a construction sector we still have got some way to go to get back to the historic highs seen during the middle of the last decade,” he added.

 

July’s figures are part of an upward trend in new transport infrastructure contracts which extend over the last six months, Mr Dall said.